Algerian Agency for Investment Development Marks One Year Anniversary with a Promising Economic Outlook

BY: Hana Saada

Algiers, August 15, 2023 – The Algerian Agency for Investment Development celebrated a significant milestone at the El Hani Hotel, commemorating the completion of its first year since inception on July 20 of the previous year. The event highlighted the agency’s pivotal role in fostering economic growth and transformation in Algeria through various reforms and initiatives aimed at attracting both local and foreign investments.

Under the leadership of Amari Fayçal, the head of the Algerian Agency for Investment Development, a compelling case was made for the positive economic changes catalyzed by the recent legal reforms pertaining to investments. Particularly noteworthy is the drive to integrate digitization across all sectors, recognized for its instrumental role in eliminating historical obstacles and promoting a more investor-friendly environment.

Amari Fayçal in his address, expressed gratitude for the Algerian government’s unwavering commitment to nurturing a conducive investment climate. Special attention was drawn to the efforts made in facilitating domestic investments by granting a suite of incentives that ensure stability within the Algerian investment market.

A resounding vote of confidence was placed on President Abdelmadjid Tebboune’s landmark decision to maintain the existing investment law for a decade. This commitment, as articulated by Faisal, serves as a strong inducement for foreign investors to explore the Algerian market, offering a reassuringly stable and predictable regulatory landscape for the years to come.

“We recognize the significance of providing a predictable and stable environment for investors. Our agency is dedicated to playing a distinct and transformative role in advancing the national economy and elevating investment yields within Algeria,” declared Faisal during the commemorative event.

The Algerian Agency for Investment Development has outlined a comprehensive action plan that seeks to align its efforts with the nation’s overarching economic objectives. This includes targeted strategies to streamline administrative processes, enhance the ease of doing business, and foster innovation across sectors.

With the agency’s commitment to transparency, efficiency, and progress, there is growing optimism about the prospects for Algeria’s economic landscape. The anniversary celebration not only acknowledged past accomplishments but also underscored the agency’s unwavering dedication to realizing a vibrant and dynamic investment environment that propels the nation towards sustained prosperity.